What to Watch as Crypto Buzz Picks Up Again

Lots of "false flags" out there in the news these days trying to talk the market up or down, but here are three real, recent developments that could significantly improve the crypto landscape in the near term.

First up: Big Win for Ripple

Why it matters: Ripple's XRP was finally deemed not a security for retail traders meaning it isn't under the purview of the SEC. Exchanges that halted trading and delisted can comfortably re-list now knowing the SEC won't be banging down their doors for illegally allowing trading in an unregistered security. The ruling gives a major boost to other tokens that were potentially under investigation. IN legal terms, this has set a precedent.

Next: Blackrock re-files spot Bitcoin ETF application

Why it matters: A spot Bitcoin ETF means institutional and retail clients can trade and hold Bitcoin in their accounts rather than having to go through a proxy like Grayscale's fund that doesn't give owners direct exposure. It would massively expand the user baes of traders in Bitcoin adding tens of billions of dollars or more to the potential market.No large U.S. financial institution has been able to get one approved (Grayscale has tried along with a host of others.) The SEC had a slew of "concerns" from secure custody to market manipulation, but with major players now in the mix those are hardly serious. And the SEC has approved futures, so they believe the underlying "asset" is secure enough to gamble on with client funds.

Finally: International Expansion -- Japan Opens Up, Hong Kong Aims to be Crypto Hub

While the U.S. SEC dithers over crypto regs, much of the rest of the world is forging ahead with major potential markets opening up. Even though mainland China remains largely cut off from crypto trading (shhh, VPNs) Hong Kong is aiming to become a major hub with recent approvals for exchanges. Japan too is forging ahead with regulations that will enable a strong market to develop.